S Corporations

Price: $29.85

CPE Credits: 3.0

Category:

Course Number: TXSCORDS

S Corproation - tax cpe

Description:
In this course, the intricacies of setting up and terminating an S corporation are detailed and taxation is discussed. The numerous advantages and disadvantages of this entity are identified to help practitioners determine whether the S corporation is most suitable for their clients. Eligible domestic corporations can avoid double taxation by electing to be treated as an S corporation under the rules of Subchapter S. Subchapter S provides an optional method of corporate taxation and allows small business corporations to elect unusual tax treatment. The S corporation is taxed like a partnership, but in other respects, S corporations are taxed like C corporations. Table of Contents

Delivery Method: Online QAS Self Study.

Level: Overview.

Prerequisites: None

Advanced Preparation: None

Author: Danny C. Santucci

Publication: February 2014
UpdateMarch 2018

Format: PDF
Pages:  91

Passing Grade: 70%

Exam Policies: Exam may be retaken. Course must be completed within one year of purchase.

CPE Sponsor Info : NASBA/QAS #109234. Click here to view specific state approvals.

By the end of the course participants should be able to:

  1. Recognize a client’s potential use of the S corporation format and its tax advantages and disadvantages by: citing the requirements for an S corporation election, identifying eligible S corporation shareholders, specifying the one-class-of–stock regulations, and determining the ways an S corporation election can be terminated.
  2. Identify the concepts of S corporation taxation by:
    1. Recognizing the application of passive income taxation, accumulated adjustments accounts, built-in gains, net operating losses, tax preference items, and potential capital gains taxes,
    2. Determining a shareholder’s stock basis from capitalization and loan activity,
    3. Specifying the related party rules including their impact on deductions, available fringe benefits, and tax forms to use when filing as an S corporation.

 

Description:
In this course, the intricacies of setting up and terminating an S corporation are detailed and taxation is discussed. The numerous advantages and disadvantages of this entity are identified to help practitioners determine whether the S corporation is most suitable for their clients. Eligible domestic corporations can avoid double taxation by electing to be treated as an S corporation under the rules of Subchapter S. Subchapter S provides an optional method of corporate taxation and allows small business corporations to elect unusual tax treatment. The S corporation is taxed like a partnership, but in other respects, S corporations are taxed like C corporations. Table of Contents

Delivery Method: Online QAS Self Study.

Level: Overview.

Prerequisites: None

Advanced Preparation: None

Author: Danny C. Santucci

Publication: February 2014
UpdateMarch 2018

Format: PDF
Pages:  91

Passing Grade: 70%

Exam Policies: Exam may be retaken. Course must be completed within one year of purchase.

CPE Sponsor Info : NASBA/QAS #109234. Click here to view specific state approvals.

By the end of the course participants should be able to:

  1. Recognize a client’s potential use of the S corporation format and its tax advantages and disadvantages by: citing the requirements for an S corporation election, identifying eligible S corporation shareholders, specifying the one-class-of–stock regulations, and determining the ways an S corporation election can be terminated.
  2. Identify the concepts of S corporation taxation by:
    1. Recognizing the application of passive income taxation, accumulated adjustments accounts, built-in gains, net operating losses, tax preference items, and potential capital gains taxes,
    2. Determining a shareholder’s stock basis from capitalization and loan activity,
    3. Specifying the related party rules including their impact on deductions, available fringe benefits, and tax forms to use when filing as an S corporation.

 

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